Personal Finance Florida 'No Surprises' Law. |
- Florida 'No Surprises' Law.
- [Update] Checked credit report and noticed a collections that I have no knowledge of.
- Invest as early as possible folks!
- Don't forget to do a mid-year income tax withholding review (IRS withholding calculator)
- Inheritance advice for irresponsible elderly adults
- Starting first real job and parents want to pay down payment for an apartment (NYC)
- Best Option for Depositing Cash w/ Ally Bank
- Annuity Question
- How to pay for rest of college as a 5th year undergrad
- Currently racking up 20,000$ in student loans. Would it be better to drop out now and work it off or continue with college(more loans)?
- Is "Article 52" a real thing with regards to auto finance?
- Is it possible to get denied to get a secured credit card?
- I want to maximize my credit score. Is it possible to pay off my auto loan TOO fast?
- 23y/o, no debt, soon to be married. Advice on finance for marriage?
- Hello I’m 17, and I got a few thousand saved up but was wondering if I could invest it or put them in CD’s or etc?
- Scammers pretending to be someone else’s phone number demand ransom
- Leaving A Fun Job For Better Benefits
- Marriage, does past debt become joint debt? [Wisconsin]
- Social security wants over $1000 from me... when it should be in my dad’s name
- Is it better to lease a car or get a loan?
- What do I do when my property manager is saying I didn't give proper 60-day notice?
- Should I go with Fidelity as my bank?
- 401k options for self-employed?
| Posted: 29 Jun 2019 03:43 PM PDT Just thought I'd share this as I sometimes see health insurance issues here. I got a bill from a medical test that was taken in a doctors office that was IN NETWORK. A year later I got a bill for the test that they had sent out to a company in California that was not in network. I was about to just write a check and be done with it and decided to call and pay with my rewards credit card so it wasn't a total loss. I complained about the bill to the customer service rep I got and she said 'let me put you on hold because Florida has a No Surprises law'. While on hold I googled it and it passed in 2016. Since it was out of network but from an in network dr/issue the bill was zeroed out and I don't have to pay it. It was nuts. From a $400 bill to nothing and had I not called I would have been out $. There may be other states with this law so check before you pay. [link] [comments]  |
| [Update] Checked credit report and noticed a collections that I have no knowledge of. Posted: 29 Jun 2019 04:12 AM PDT Original post: https://old.reddit.com/r/personalfinance/comments/c4fr1c/checked_credit_report_and_noticed_a_collections/ So I was a bit worried about this issue and I received some good advice about what to do, however, it ended up being a pretty easy fix. I filed a dispute with TransUnion and Experian, Equifax didn't report the account, so I had nothing to file, I'll check back when my report is updated with them next month. While I was filing with Experian, I decided to give them a call, they told me to call the original creditor to find out if it was a discrepancy with the filing or if it were fraud. Rural/Metro of San Diego couldn't find any history of the account and directed me to call the collections agency, something I was a bit apprehensive about doing, but I went through with that, and I am glad I did. I called and told them my predicament and how I had no knowledge of the account that they have in my name in collections, the lady at the agency told me everything about the original account, an ambulance picked up someone with my same name at a street in San Diego and dropped them off at a nearby hospital on 10/30/2018. I informed her that I have a time stamp from work on 10/30/2018 and that it couldn't have been me. She then asked me my birthday, and that's where we found the discrepancy. Same name, but different birthdays and somehow the account was put in my name. The agent placed the account in dispute, I sent them a copy of my ID to provide my date of birth, two days later, Experian resolves the dispute, and TransUnion was resolved this morning. The account was deleted from both reports. [link] [comments]  |
| Invest as early as possible folks! Posted: 29 Jun 2019 11:02 AM PDT The money you make earlier in life is more available than the money you will make later in life thanks to compounding interest. Here is a fun made up example of what I mean. You and I are 25. We decide we want to retire at 65. I contribute $500/month from age 25 thru age 35, but you want to wait so you dont. So I invest monthly for 10 years, with 7% return being assumed after inflation (dividends always reinvested, of course). I stop putting in at 35 and I have $86k and let it accrue 7%/year. You decide to stop waiting and contribute the same $500/month starting at 35. BUT you contribute all the way until 65. We will assume 7% growth as well to be fair. Edit* Holyshit folks, don't worry about the 500 number or age of 25, you are trying too hard, this is just an example, obvouisly everyone has different situations, the point of this post is to tell you to stop putting off retirement simply because it's so far away and you can deal with it later You never catch me, even though you invested for 3x as long, because you started late. You finish with $588k, I finish with $655k, or 11.4% more than you. Best time to invest is today! Edit* Holyshit folks, don't worry about the 500 number or age of 25, you are trying too hard, this is just an example, obviously everyone has different situations that will factor into how much they can invest, the point of this post is to tell people to stop putting off retirement simply because it's so far away and you can deal with it later. Invest what you can and as soon as you can so you are not playing catch up later in life Change the $500 to whatever figure you would like, the point still applies [link] [comments]  |
| Don't forget to do a mid-year income tax withholding review (IRS withholding calculator) Posted: 29 Jun 2019 08:54 AM PDT Don't forget to do a mid-year income tax withholding review to make sure you are having the proper amount of taxes withheld based on your current allowances claimed and how you want to end the tax year (owing, refund, breaking even). You can do it here: https://www.irs.gov/individuals/irs-withholding-calculator [link] [comments]  |
| Inheritance advice for irresponsible elderly adults Posted: 29 Jun 2019 01:24 PM PDT I have some family members who have a history of being very bad with money. They are now in their early 70s with 0 retirement. They inherited about 100k 10 years ago and lost it within 6 months by spending it on a business for one of their kids. They will inherit roughly 2.5 million dollars next year. They've asked me for some advice on what to do with the money. Is there a way to put that money somewhere and get around 100k a year until they need more? They have 4 children, but only one of their kids will most likely start asking for money once they get their inheritance (same kid that the 100k went to - failed businesses start up). My motivation is if they lose this money I will most likely have to help fund their retirement which I really dont want to do. One of their daughters is recommending putting the money on CDs. Is there a safe way to do this ? I figure the stock market wouldn't be good since they are already in their 70s. I'm assuming they'll buy a house and then use the rest for living expenses. They live in FL. Thanks [link] [comments]  |
| Starting first real job and parents want to pay down payment for an apartment (NYC) Posted: 29 Jun 2019 05:44 PM PDT I'm starting my first real job after completing graduate school in a few weeks. So far I've been temporarily staying with my parents in Brooklyn (just moved back) and looking for a place to rent in Brooklyn or Manhattan to be closer to work. However, my parents recently informed me that they have actually been saving up money (~$120k) so that I can pay a down payment on a small apartment, which came as a shock to me. They want to give me the money (no repayment) to buy an apartment instead of renting one and see renting as a waste of money. They won't let me just take the money and invest it. I'm not sure what to do about this offer. Considering this is my first real job and that I have no money saved for retirement yet (when I start work, I'll max out my contributions for retirement), it makes me nervous. Any advice would be great. About me: Single, 28, $110k/year, $22k in student loans (4%), $10k in savings, credit score 792 [link] [comments]  |
| Best Option for Depositing Cash w/ Ally Bank Posted: 29 Jun 2019 05:41 PM PDT Hiya, fellas! Recently I opened an Interest Checkings account with Ally Bank as I've heard a lot of good things with them and the interest feature caught my eye. I want to move away from my former bank as I'm sick of the monthly "maintenance fees" and want to be exclusively with Ally. What is my best approach to depositing cash when I need to? I've read about Bluebird, but the nearest Walmart is 5mi away and I find it inconvenient to drive all the way there when I rarely go to that area. I've also heard about Credit Unions. I am willing to open a Credit Union account if it's better to do so. Honestly, I'm just looking for a way to deposit cash without having to deal with money orders, fees, and the likes. I live in Miami, FL if that helps any! Thanks! [link] [comments]  |
| Posted: 29 Jun 2019 07:14 PM PDT I had a someone pitch me something about fixed income annutiy ,,,,,I have no clue where to look or which is good...if it is even a good option....was looking for putting some money into passive income.... I welcome your opinion and thoughts / guidance Thanks. [link] [comments]  |
| How to pay for rest of college as a 5th year undergrad Posted: 29 Jun 2019 05:26 PM PDT I am asking this for my younger sibling who is really trying to complete her degree. She is a Biochemistry Toxicology major at a state school. She is mainly financially supported by our mother. Throughout school, she has received some financial aid and worked an on-campus job. One of the issues was that our mother made to much. She rented a small room on campus to be closer to school. Initially, she was given a scholarship freshman year of about $10,000 but due to some issues was unable to keep it. Despite this, she managed to complete several courses, get involved with a service organization, got promoted at her job twice, and made it this far in her program. There were some personal challenges including some severe anxiety, our mom getting diagnosed with cancer, and another family member getting a traumatic brain injury. They have both since recovered. After several frustrating visits with the financial aid office, we were able to get some help from the retention department who contacted the FA office to secure funding for the spring 2019 term. She was "supposed" to graduate this past May but still has some courses to take to complete her program. She moved home to cut down on paying rent. But she will also be working fewer hours at her job this summer possibly in the fall. They are saying she may have exhausted her financial aid. I've encouraged her to apply for scholarships and she has been using the scholly app. What would you recommend for a 5th year senior to do to pay for school? There is also some looming medical debt for her (my sibling) which we have yet to tackle. [link] [comments]  |
| Posted: 29 Jun 2019 06:51 PM PDT Im asking this because I'm unsure if the extra student loans I'll acquire(at least 30,000) will be worth the degree im pursuing (Accounting). Especially since my gpa will be average compared to others when I graduate. I feel sometimes if I were to drop out now and become like a truck driver or something that would help me pay off debt faster, along with becoming financially stable quicker. I'm in this situation because I changed my major too many times along with failing like 4 classes throughout my freshman-junior year. I'll be a 5thyear senior. College seems like a crapshoot right now because I messed up so much but my parents get mad when I suggest dropping out. [link] [comments]  |
| Is "Article 52" a real thing with regards to auto finance? Posted: 29 Jun 2019 02:15 PM PDT I have been trying to buy a used car recently. Every dealership I've been to has lied to me in multiple ways, so apologies if I sound bitter. Yesterday, I had to leave after being yanked around for a couple hours, but left a deposit and filled out the credit application before I left, with the understanding that they would call me back with the rate I could get. When they called me back, they said I was approved, but wouldn't give me any details about financing terms over the phone, and kept asking what time I could come in. After I asked him for the rate for the 5th time, he told me that they are not permitted to discuss anything about financing over the phone due to "Article 52". When I asked him article 52 of what law, he told me "finance regulations". I'm can't find anything about Article 52, and I think he made it up because he wants me to come back in for more hard selling. Did he or is this real? [link] [comments]  |
| Is it possible to get denied to get a secured credit card? Posted: 29 Jun 2019 01:57 PM PDT Is it possible to get denied to get a secured credit card? My friend got denied and thinks someone at that credit institution lied to her. [link] [comments]  |
| I want to maximize my credit score. Is it possible to pay off my auto loan TOO fast? Posted: 29 Jun 2019 06:26 PM PDT My main goal right now is raising my credit score. I am 25, I opened my first credit card in March '19, and I purchased a new vehicle 2 weeks ago. I had no credit history before this year. I make frequent payments to my card to keep my credit balance less than 1/3 of my credit limit. Intuit estimates that my credit score is 688. However, my credit is so new that BofA has not yet assigned me a credit score. A teller told me it takes 3-6 months. So when I bought the car, I still had zero credit history. The interest rate isn't great but I actually have enough cash on hand to pay it off today. Sure, I could avoid interest by paying it off; but I want to have the highest credit score possible when I'm ready to buy a home 1-2 years down the road. I want to know how quickly I should pay off my auto loan in order to maximize my credit score. Here are the details: auto loan balance: $5,135.70, term: 48 mo, APR: 8.2, minimum payment: $124.87. I have $8,500 in checking and $5,550 in savings at BofA. monthly income: $2,400, average monthly spending: $1,800 including rent. I do want to avoid some of that interest so I have a modest plan and a more aggressive one. Lets say I pay off $1000 the first month then $250 each month after. According to the calculator on this site I could pay off the loan in as soon as 19 months. Or I could go bigger, pay $3000 or more on month one then, still pay $250 monthly, and pay it off in as soon as 12 months. So here's my question, is there any reason that paying it off more quickly would raise my credit score less? I hear that an auto loan is a great way to build credit; but does a lender dislike if one pays off a 4 year loan in only 1 year since they would make less on the loan? What about paying the whole think off in one month? [link] [comments]  |
| 23y/o, no debt, soon to be married. Advice on finance for marriage? Posted: 29 Jun 2019 03:39 PM PDT Hey everyone, long time lurker, first time poster to this sub. I am 23 y/o, no debt, an associates degree in networking, a job that pays $40,000 net yearly, and a budget that lets me save roughly $1,500-$2,000 a month (depending on the month). I also give plasma to help pay for gas and any fun things I would like to do. I typically wouldn't post asking for advice or help since I am stable and well off for my age, but I am getting married in November and want to be prepared for it. My soon to be wife is 22 y/o, no debt, is currently getting paid to go to school since she is the first in her family too and since her dad is disabled, she is just working a part time job to get by, but will graduate with a business degree this upcoming spring. We currently do not live together and won't until we are married since she is helping her dad and going to school 2 hours away. We see each other about 3-4 times a month on the weekends. I live in Kansas City, so the rent and expenses aren't much here Bring home per month - $3,000, plus $300 in plasma. Overall, I am able to save $1,500 at minimum, $2,000 at most. Our wedding is paid off for and a few other expenses will be paid for next month (have to fix my car) So this isn't me asking for help on my budget, its asking for help on hidden expenses and what I need to plan on when I get married. We both started saving in February. I wasn't putting any money back and spending my whole paycheck, and she only had $14 in her bank account. I have been able to save up $10,000 for a wedding, buy a car, and move to KC. And we both now have $1,000 emergency fund. We have come a long ways in 5 months. So like I said earlier, what am I missing? What do I need to know? I know I won't be saving that much when we get married since she won't be working for a month or so, but I will still be saving. So what do I need to account for and what advice would be the best? [link] [comments]  |
| Posted: 29 Jun 2019 04:47 PM PDT Weekly I make 100-200+ dollars, part time atm. I got no bills no debt still living with my folks. College will be funded by them when I graduate next year. I got a car fully paid off. Rent free. I have no health insurance and all my treatments are all finished/paid off. Only thing I got in the upcoming decade or two is lasik possibly. When I'm older. I also would like to seek therapy. Once I'm 18 I plan to get my own savings/checking account. And my own credit/debit cards. I'm pursing a degree in business, which my folks will pay for, the catch is I know they have enough to live decently. But they don't have enough to fully retire. I expect to drop a few 100ks to get them situated and up to date medically in their home country when their 65-70 which will be in 2 decades. Idk if my grand parents have any wills but it seems they were fooled by my uncle and aunt so the estate was already given to them with my dad being left nothing. My dad has paid for all my grand folks bills alone both health and property bills. So I know in the coming years his gonna spend a good bunch when they hit 90–100 year old. Yes my dad got screwed over and his dad wasn't the best but he wants him to die happy. My dad also hasn't been the greatest but I want his last years to be happy and give him the chance he gave me when he immigrated to the us. Monthly expenses atm is avg 30-40$, after I get my degree and higher paying job I plan to take over my phone bill, car insurance, etc. I have 70% of my money in my checkings acc and 30% in cash. I do side "jobs" for some quick cash and profit. [link] [comments]  |
| Scammers pretending to be someone else’s phone number demand ransom Posted: 29 Jun 2019 08:09 PM PDT My wife got a call from her mom today. A man said he had her at gunpoint and would kill her if we didn't go to the bank, take out $1500 and purchase gift cards for him. I went to the bank and wrote a note to call the police. Police contacted my MIL's police department who checked on her. I'm not sure how they mirrored her number but it was pretty scary. While I was skeptical the whole time I didn't want to take any chances. They knew details about my wife and I beyond both of our phone numbers. [link] [comments]  |
| Leaving A Fun Job For Better Benefits Posted: 29 Jun 2019 07:57 PM PDT I've been working at a fun job that pays me a wage that I'm happy with $18.75, but they do not offer vacation time (for the first year and even after the first only one week), no paid holidays off, and no sick time. They do offer Medical, Dental, and Vision but I don't get it because it's too expensive. Recently I received an offer that pays 11% more, but has paid holidays off, 2 weeks vacation after 90 days, sick time, and one flex holiday. They also have way cheaper Dental and Vision I could definitely subscribe to. As for Medical they have an expensive plan that is $342 a check, but it's one of those covers everything, small copay ones. I'm used to having meh HDHP where most things came out of pocket, so having good healthcare is a welcome luxury. I'm really stressing myself out on whether leaving my fun job is worth it for what seems to be a greater compensation package. Edit: Adding some job info since I forgot to mention it. Currently I work in a Saltwater Fish Store and the job offer is for a Data Analyst job at a payroll software company. I've been in the tech support, data entry fields since 2012. [link] [comments]  |
| Marriage, does past debt become joint debt? [Wisconsin] Posted: 29 Jun 2019 01:59 PM PDT My wife and I are planning to get legally married soon. I have read around, faqs and google but I'm still a bit unsure. My understanding is that Wisconsin is a community state, which means any debt accrued during marriage is both of ours. However, any debt before is not. And our credit does not become one unless we create a joint account in something. Is that correct? I have a previous bankruptcy (2 years discharged) and, of course, student loan debts were not discharged so I have that still. Is that something we will have to worry about in regards to buying a house in, let's say the next 5 years? My assumption is that my student loans will stay my own debt and my credit should not affect hers unless we decide on joint accounts? And assuming we don't make any more blemishes to our credit, we might be creditworthy for a house in 5-8 years? Anything else I may consider before getting legally married? [link] [comments]  |
| Social security wants over $1000 from me... when it should be in my dad’s name Posted: 29 Jun 2019 04:09 PM PDT Here's the story. About a month ago a received a letter from the social security administration stating that I owed them over $1000 and that I must pay them back or they will deduct the money from my paychecks. I was very confused as I had no idea what this was about. I talked to my parents (I still live at home) and my dad said he was granted disability years ago and they overpaid him, which is why they want money. I didn't understand why it was in my name, but he said he'd take care of it so I trusted him to do that. Yesterday, I received a letter from them claiming that they contacted my employer stating that they will begin the process of collecting from my paychecks. I talked to my dad and he said that he didn't understand why I was receiving that letter and that he was paying them back in installments. I have a feeling he is not being totally honest with me and alarm bells are ringing in my head. I am not financially savvy at all so I feel as if I may be taken advantage of. Is my dad lying to me? He says that he does not know why the letters are being directed at me but I get the feeling that this is not true. [link] [comments]  |
| Is it better to lease a car or get a loan? Posted: 29 Jun 2019 05:31 PM PDT So in my area, a lot of dealers are doing lease deals with 130% KBB value buy, 0% APR for 36 months, stuff like that. I currently drive a 98 cavalier, 104,300 miles, bought Dec 17 with 72K miles. I work as a salesman for an industrial supply company, income and expenses laid out below: Income: About $2,000 minimum, plus commission. Rent: $650 Utilities: $85 Insurance: $75/month plus installment fee of $8 Credit cards: $70 Student loans: $75 Food: ~$150 a month. Gas: MAX $80 a month, does NOT get good mileage unless I'm just driving to and from work Miscellaneous expenses: $250 Credit score last checked: 650 I feel like I'm missing one or two things but that's pretty much it. Commission ranges from anywhere between $300-$1250, depending on how well the store does. I know it's not a lot to go off of, but my question is whether it's better to lease or take a loan out to get a newer car, at least one with air conditioning. I haven't driven a car with AC in 5 years. [link] [comments]  |
| What do I do when my property manager is saying I didn't give proper 60-day notice? Posted: 29 Jun 2019 07:40 PM PDT My lease is ending and it states that I must give a written 60-day notice. At the end of the moving out section, there is an address that states "Address and phone number of owner's representative for notice purposes." -- which was an address in a metropolitan area that the property I live on is 45 minutes away from. Since there was no further instructions (i.e, send certified mail...etc) I just dropped the notice in the mail and didn't think twice about it. Since its almost our last 30 days, I told my roommate to go to our leasing building and just verify that we were all good to go (I am familiar with 30 days notices which is why). That is when he was told we needed to come to the office on our property to fill out a moving out notice form and now we have to pay for the following month plus a fee. Nowhere does my lease say that I have to fill out a form from the building I live on. It just simply says they need a written 60-day notice and they give an off property address. It also doesn't say to send by certified mail...but now I know to always do so. I don't have proof of dropping the letter off in the mail except I kept the copy of the letter I wrote. What can I do? [link] [comments]  |
| Should I go with Fidelity as my bank? Posted: 29 Jun 2019 07:33 PM PDT I have over 30k in my brick-and-mortar bank account (most in a money market) and all of my investments and retirement money in my Fidelity account. I noticed that for my money market in my traditional bank account gave me .87 interest on that 30k. In my fidelity, I have a cash management account where I have over 7k holding. That account paid out $2.54 in interest from Wells Fargo. Needless to say, I feel like I'm getting hosed by my bank and feel I should probably put all my money into a Fidelity account. My fear is 1) the time it takes for a deposit to become available (at least 4 days) and 2) I can't easily get a cashier's check if I make a big ticket purchase since I don't have a physical bank I have an account with. I'm not sure if there are other considerations I'm not thinking of. The absolute wonderful thing about Fidelity is that they since they use multiple banks in their cash management account, your FDIC backed over $1million. (not that I would house that much in a savings account). I also gain the benefit of having quick and easy access to funds that I could use for stock and other types of investing. So is this highly risky to do away with a traditional bank or a smart decision to go with Fidelity? Are there other things I should consider moving away from a traditional bank? Thanks for your help! [link] [comments]  |
| 401k options for self-employed? Posted: 29 Jun 2019 05:06 PM PDT So here's my wife's situation... Some background. My wife is a dentist with no student loans. She is 35 and we both plan to retire at 55. I have two questions. For CY2019, she was working part time at two practices -- one as a W2 employee and another as 1099. The W2 practice did not offer a 401k. In this case, considering she was both a W2 employee as well as a 1099 employee, can my wife enroll in a self-employed 401k? What are her options? Which vendors offer the best 401k plans with low admin fees? Also, in a couple of years, my wife plans to start her own independent dental practice. Most dental practices in our area do not offer 401k to their employees and typically employ 3-4 employees as part of the practice. Can my wife still contribute to the self employed 401k after starting her own practice? Thank you. [link] [comments]  |
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